GE CEO SAYS IT'S 'A VERY GOOD TIME TO INVEST IN RUSSIA'
Jeffrey Immelt, CEO of U.S.-based General Electric (GE), met in the Kremlin with President Vladimir Putin on 21 October to discuss Russia's energy and transportation sectors, "The Moscow Times" reported on 22 October. Immelt told Putin that GE is especially interested in electricity and railroads, adding, "this is a very good time to invest in Russia." For his part, Putin said that the government welcomes GE's interest because it is trying to diversify the economy and to develop the high-technology sector. Immelt said GE earned about $50 million to $100 million in Russia last year, primarily in the banking, health-care, oil, and transportation sectors. GE owns Russia's DeltaBank, which is the country's largest issuer of credit cards.
